Nordic Nanovector ASA (OSE: NANO), a biotechnology company focusing onthe development of novel targeted therapeutics in haematology andoncology, announces that the first patient has been enrolled into oneof the two new arms of its expanded Lymrit 37-01 clinical study withBetalutin®.

Betalutin® is a novel anti-CD37 targeting Antibody RadionuclideConjugate in development for the treatment of major types ofnon-Hodgkin's lymphoma (NHL), including Follicular Lymphoma (FL).

The new arm (Arm 3) is designed to investigate the safety and efficacyof Betalutin® in up to 12 patients with relapsed FL pre-dosed withstandard anti-CD20 immunotherapy (rituximab) on Day 0, a few hoursprior to the administration of Betalutin®.

Luigi Costa, Nordic Nanovector CEO, commented: "We are pleased toinitiate the first of the two new cohorts in our ongoing clinicalstudy, which represents a significant step forward in Betalutin'sdevelopment plan. Data we have seen to date suggest that we canachieve strong clinical efficacy with a regimen that controlshaematological side effects. The two new arms are investigating ifdifferent pre-dosing regimens will allow the use of higher doses ofBetalutin® to potentially achieve even higher efficacy than that sofar observed, and therefore an even more compelling product profile."

The Lymrit 37-01 study is a Phase 1/2 open label, single injectionascending dose study investigating three dose levels of Betalutin®and different dosing regimens in patients with relapsed NHL with theaim of identifying an optimal dose regimen to take into the Phase 2PARADIGME study, which is expected to start in 2H 2017.

Patient recruitment into the Phase 2 part of Arm 1 (15Mbq/kg plus50mg/ml unconjugated "cold" HH1 anti-CD37 antibody) is progressing asplanned with dose-escalation expected to begin in 2H 2016. Patientscreening is also underway for the final arm in the expanded Lymrit37-01 study (Arm 4), in which escalating doses of Betalutin® pluspre-treatment with a higher dose of cold anti-CD37 antibody than inArm 1 will be evaluated in relapsed FL patients.

A decision to increase the dose of Betalutin to 17.5 MBq/kg in Arm 1can be made based on the evaluation of the safety and efficacy dataobserved in the 15 patients treated with 15 MBq/kg. A decision toincrease the dose of Betalutin to 17.5 MBq/kg or 20 MBq/kg in one orthe other of Arms 3 and 4 can be made based on the evaluation of thesafety and efficacy data observed in the first three patients of bothcohorts.

Data and analysis recently published at the American Association ofCancer Research annual meeting (16-20 April) confirmed thatBetalutin® was generally well tolerated and showed a 63.2% OverallResponse Rate (ORR) and a 31.6% Complete Response (CR) in evaluablepatients. Clinical responses observed were sustained, with Durationof Response exceeding 12 months in most responders in the 15 MBq/kggroup who have been followed up for at least 12 months.

Nordic Nanovector is a biotech company focusing on the development andcommercialisation of novel targeted therapeutics in haematology andoncology. The Company's lead clinical-stage product opportunity isBetalutin®, the first in a new class ofAntibody-Radionuclide-Conjugates (ARC) designed to improve upon andcomplement current options for the treatment of non-Hodgkin Lymphoma(NHL). NHL is an indication with substantial unmet medical need andorphan drug opportunities, representing a growing market worth over$12 billion by 2018.

Betalutin® comprises a tumour-seeking anti-CD37 antibody (HH1)conjugated to a low intensity radionuclide (lutetium-177). Thepreliminary data has shown promising efficacy and safety profile inan ongoing Phase 1/2 study in a difficult-to-treat NHL patientpopulation. The Company is aiming at developing Betalutin® for thetreatment of major types of NHL with first regulatory submissionanticipated in 1H 2019.

Nordic Nanovector intends to retain marketing rights and to activelyparticipate in the commercialisation of Betalutin® in core markets,while exploring potential distribution agreements in selectedgeographies. The Company is committed to developing its ARC pipelineto treat multiple selected cancer indications.

This announcement may contain certain forward-looking statements andforecasts based on uncertainty, since they relate to events anddepend on circumstances that will occur in the future and which, bytheir nature, will have an impact on Nordic Nanovector's business,financial condition and results of operations. The terms"anticipates", "assumes", "believes", "can", "could", "estimates","expects", "forecasts", "intends", "may", "might", "plans", "should","projects", "will", "would" or, in each case, their negative, orother variations or comparable terminology are used to identifyforward-looking statement. There are a number of factors that couldcause actual results and developments to differ materially from thoseexpressed or implied in a forward-looking statement or affect theextent to which a particular projection is realised. Factors thatcould cause these differences include, but are not limited to,implementation of Nordic Nanovector's strategy and its ability tofurther grow, risks associated with the development and/or approvalof Nordic Nanovector's products candidates, ongoing clinical trialsand expected trial results, the ability to commercialise Betalutin®,technology changes and new products in Nordic Nanovector's potentialmarket and industry, the ability to develop new products and enhanceexisting products, the impact of competition, changes in generaleconomy and industry conditions and legislative, regulatory andpolitical factors. No assurance can be given that such expectationswill prove to have been correct. Nordic Nanovector disclaims anyobligation to update or revise any forward-looking statements,whether as a result of new information, future events or otherwise.

This information is subject to a duty of disclosure pursuant toSection 5-12 of the Securities Trading Act.